$ADA News and Charles Hopkinson

Audit in progress – Charles Hoskinson has received the first draft of the audit report into IOG’s ADA holdings and says it’s “shaping up quickly.” Aiming for a mid‑August public release, conditions permitting .

Addressing the $600 M allegations – The audit stems from claims that IOG used a "genesis key" during the 2021 Allegra fork to control or misappropriate approximately $350–619 million ADA .

Hoskinson’s denial – He firmly rejects all allegations, stating that most ADA was claimed by users and any unclaimed funds were donated to the Cardano governance body, Intersect .

Transparent release – The audit will be livestreamed in full by Hoskinson, and a dedicated website will host both the report and historical documents .

Legal measures underway – Hoskinson is considering legal action and is consulting with a defamation law firm to potentially sue those spreading the false allegations .

Why it matters

Trust & credibility: This audit could prove pivotal in restoring faith in Cardano and IOG, especially amid growing scrutiny over transparency and control .

Market impact: ADA prices have already seen a noticeable uptick on news of the audit. Investors are closely watching the outcome for further insights .

Governance spotlight: The situation highlights ongoing debates around blockchain governance, ledger control, and post-token distribution accountability.$ADA